Debating ways to cut the bills? Or how to spend the family holiday fund? Talking about money can be tricky, but here are some ways to have easier, more informed conversations.
The key to any money conversation is being clear on the what and when.
Not sure where to start? Viewing your transactions online can give you a really clear view of your money.
Go in knowing what your ideal outcome is, with the facts and figures ready to help you make your case.
For example, if you want to talk about the family budget, bring details of the last few months. Internet banking or a mobile app can give you quick access to useful information during your conversation.
Don’t just say the first thing that comes to mind - consider your words. Try using ‘I statements’ instead of ‘You statements’. For example: “I don’t think we can afford that” is less confrontational than “You can’t have that”. Consider your tone, too. Staying positive and friendly makes even tough talks easier.
Be clear about what you need or want. If you can’t or don’t want to spend money on something, say so. And be upfront if you think it’s best if one or both of you had a conversation with your bank.
Not all money conversations can be resolved in one go. If you’re talking about significant figures or budget changes:
Once you’ve wrapped up the conversation, make sure that everyone knows what’s been decided and what the next steps are. That will help you avoid an even more awkward conversation in the future.
Bank of Scotland plc. Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ. Bank of Scotland plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628.